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Netcapital (NCPL) investor relations material
Netcapital Registration Filing summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.Company overview and business model
Operates a fintech platform enabling private companies to raise capital online from both accredited and non-accredited investors, leveraging Regulation Crowdfunding (Reg CF) and Regulation A offerings via its subsidiaries.
Generates revenue through listing fees, portal fees (4.9% of capital raised), and a 1% equity success fee; consulting services for equity have been discontinued since fiscal 2025.
Platform expansion plans include supporting tokenized securities and fractionalized real-world assets, with a partnership established for blockchain-based offerings.
Broker-dealer subsidiary approved in November 2024, enabling Reg A and Reg D offerings and expanded distribution through partnerships.
Financial performance and metrics
Fiscal year ended April 30, 2025: revenues of $869,460, gross profit of $829,116, and net loss of $28.3 million; prior year revenues were $4.95 million with a net loss of $4.99 million.
Six months ended October 31, 2025: revenues of $241,134, gross profit of $231,848, and net loss of $5.77 million.
Significant revenue decline attributed to cessation of consulting for equity and fewer new issuers; average offering size decreased from $280,978 to $215,745 year-over-year.
As of January 15, 2026, cash and equivalents totaled $792,771; substantial doubt exists regarding ability to continue as a going concern.
Recognized $19.9 million in impairment expenses for portfolio investments in fiscal 2025.
Use of proceeds and capital allocation
Will not receive proceeds from resale of shares by selling shareholders; may receive up to $9.21 million if all warrants are exercised for cash.
Any proceeds from warrant exercises will be used for working capital and general corporate purposes, including sales and marketing investments domestically and internationally.
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